Abstract

Probably, Spanish savings banks are the most significant worldwide multistakeholdersentities, not only because of their mission, but also in their governance. The stakeholdermultifiduciary theory, establishes at least theoretically what the saving banks has been areality for more than a century. Then, saving banks become “a laboratory case” to analyze theviability and eligibility of governance that is shared by all stakeholders of the organization.Our hypothesis is that multistakeholder governance as well as stakeholder orientationgenerates a different strategic approach, not focused on the benefits. Therefore, themultifiduciary governance may perfectly be inefficient in relation to economic and financialindicators relating to the shareholders of an entity. However, these entities should be moreefficient if has been taken into account indicators related to the generation of social value. Tocompare the relative efficiency we have used the population of Spanish traditional and savingbanks and the 2009 data, using the technique of Data Envelopment Analysis in order tocompare the economic, social and global efficiency of both types of entities. The resultsindicate a significant differentiation between these two groups of financial institutions inrelation to social and economic efficiency, but it is not happen when using the global efficiency –economic plus social-. So, we can conclude that the efficiency in the managementbetween inputs and outputs in banks and savings banks is similar.